Daily Markets - Financial News Updates |
- Chances Of Gold Ever Trading Below $1,000 Are Remote
- Swiss Franc: Continuation Of The Rebound
- Australian Dollar: Bounce
- Canadian Dollar: Continuation Of The Rebound
- Japanese Yen: The Upside Prevails
- British Pound: The Upside Prevails
- Euro: The Upside Prevails
- Obama Deficit Brings Us Closer To The Brink Of National Bankruptcy
- 2010 US Budget Strains The Printing Press
- Tessera Down On Price Incentives
- Myriad Surpasses Zacks Estimate
- What’s In A Name: A Look Inside ETF Tickers
- Forex Trading: USDCHF Moves Back Above Moving Average Resistance After Testing Key Support Overnight
- Jones Lang Quarterly Revenue Rises
- Morning News Notes: 2/3/2010
- Pfizer In-Line, Guidance Down
- Stock Market News Briefs: Goldman Sachs Group, Inc. (The), International Paper Company, McDonald’s Corporation, Pfizer, Inc., Time Warner Inc., Comcast Corporation
- Tesoro Posts Steep Loss
- Comcast Outperforms, Outlook Flat
- Time Of Change: A Period Of US Dollar Weakness?
- Aflac Surpasses, Raises Outlook
- Forex Trading: EURUSD Moves Down And Approached The 100 Hour MA Now
- Stock Picks For 03 February
- Forex Trading: EURUSD Moves Lower In Early NY Trade To Test 100 Bar MA And Other Support Levels
- Picture Of The Day: US GDP - What It Really Looks Like
- Gold And Silver Should Follow Stock Markets In Heading Downward
- Bear Of The Day: AES Corporation (AES)
- Bull Of The Day: RightNow Technologies (RNOW)
- Stock Buy: 3M Co.
- Stock Buy: Microsoft Corp.
- Bull Of The Day: RightNow Technologies (RNOW)
- Stock Buy: Atheros Communications
- Stock Buy: Whirlpool Corporation
| Chances Of Gold Ever Trading Below $1,000 Are Remote Posted: 03 Feb 2010 07:50 AM PST Below is the link to a recent speech by John Embry, Chief Investment Strategist of Sprott Asset Management, on the outlook for gold bullion (courtesy of GATA). I now firmly believe the chances of gold ever trading below $1,000 per ounce are remote. The only caveat I would offer is that if the world suffered a catastrophic deflationary collapse, gold could briefly be swept under but would then re-emerge with even greater relative strength as … [visit site to read more]
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| Swiss Franc: Continuation Of The Rebound Posted: 03 Feb 2010 07:18 AM PST |
| Posted: 03 Feb 2010 07:18 AM PST |
| Canadian Dollar: Continuation Of The Rebound Posted: 03 Feb 2010 07:18 AM PST |
| Japanese Yen: The Upside Prevails Posted: 03 Feb 2010 07:18 AM PST |
| British Pound: The Upside Prevails Posted: 03 Feb 2010 07:18 AM PST |
| Posted: 03 Feb 2010 07:17 AM PST |
| Obama Deficit Brings Us Closer To The Brink Of National Bankruptcy Posted: 03 Feb 2010 07:01 AM PST U.S. President Barack Obama’s budget for 2011, presented on Monday, shows a deficit of $1.3 trillion for the fiscal year that ends that September. That shortfall is actually $287 billion more than the Congressional Budget Office (CBO) had projected less than a week earlier, when it had released a budget forecast of its own for that same fiscal year. Granted, we’re getting used to seeing budget deficits expand at a pretty quick pace these days. But even by government standards an … [visit site to read more]
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| 2010 US Budget Strains The Printing Press Posted: 03 Feb 2010 07:00 AM PST As I was standing in line at the grocery store, I was generously donating my Precious Mogambo Time (PMT) to educate all within earshot that they are idiots if they are not buying gold, silver and oil, and they were telling me that I was the idiot, and then I told them, no, they were the idiots, and they responded that, no, I was the idiot, and then there was a spontaneous lopsided debate (me against all the them) about who was the most idiotic.
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| Tessera Down On Price Incentives Posted: 03 Feb 2010 07:00 AM PST Tessera Technologies, Inc. (TSRA) reported fourth quarter earnings that beat consensus estimates by 4 cents.
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| Myriad Surpasses Zacks Estimate Posted: 03 Feb 2010 06:45 AM PST Myriad Genetics Inc. (MYGN) reported second quarter fiscal 2010 earnings of 36 cents per share, two cents above the Zacks Consensus Estimate. The company had earned 22 cents in the year-ago period. The year-ago earnings were inclusive of a loss of $15.6 million from discontinued operations pertaining to Myriad's former research and pharmaceutical businesses.
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| What’s In A Name: A Look Inside ETF Tickers Posted: 03 Feb 2010 06:42 AM PST Whenever a company prepares for a public offering, executives have been known to spend an inordinate amount of time choosing the combination of letters that will serve as the company's ticker and often nickname within the investment community. To many, the fixation on selecting the perfect ticker seems like an irrational obsession on par with Patrick Bateman's affinity for business cards. But there's some evidence to support the idea that picking a clever ticker can be worth quite a bit … [visit site to read more]
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| Forex Trading: USDCHF Moves Back Above Moving Average Resistance After Testing Key Support Overnight Posted: 03 Feb 2010 06:38 AM PST The USDCHF had a rough go earlier in the day falling toward the support at the 1.0500 level. On the daily chart, the price decline tested the high ceiling that developed in December 2009 at the 1.0497 to 1.0507 area (see chart above). The price was also testing the key 200 hour MA at that time. That level came in at the 1.0495 level. So not only was there support off the daily chart but also was support at the 200 hour MA level. When you have multiple reasons to find support, … [visit site to read more]
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| Jones Lang Quarterly Revenue Rises Posted: 03 Feb 2010 06:30 AM PST Jones Lang LaSalle Incorporated (JLL), a leading full-service real estate firm that provides corporate, financial, and investment management services, reported fourth quarter 2009 net income of $52.0 million or $1.19 per share compared to $41.2 million or $1.17 in the year-earlier quarter. Excluding the non-recurring items, earnings were $62.9 million or $1.44 per share during the quarter versus $60.0 million or $1.71 in the year-ago quarter.
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| Posted: 03 Feb 2010 06:26 AM PST The “Morning News Notes” as prepared by TL…Volcker, Greece, auto sales, and PIMCO’s El-Erian on equities. Just click on the link or the coffee mug below. “Morning News Notes”: February 3, … [visit site to read more]
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| Posted: 03 Feb 2010 06:22 AM PST Pfizer Inc. (PFE) reported fourth quarter earnings of 49 cents per share, in-line with the Zacks Consensus Estimate and 25% below the year-ago earnings of 65 cents. Full year earnings came in at $2.02, a cent above the Zacks Consensus Estimate, but 17% below the year-ago earnings of $2.42. Although the company reported higher revenues, results were negatively impacted by increased expenses, primarily due to the addition of the legacy Wyeth operations and increased investment in high-growth … [visit site to read more]
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| Posted: 03 Feb 2010 06:19 AM PST Pfizer (PFE) posted fourth quarter earnings that were in-line with Zacks estimates, coming in at 49 cents versus 69 cents a year ago. The firm reported revenues of $16.54 billion, above Zacks estimates of $15.94 billion. The firm also provided full year guidance of $2.10-$2.20 International Paper (IP) reported earnings of 24 cents, versus Zacks estimates of 23 cents, on revenues of $6.0 billion, ahead of Zacks estimates of $5.86 billion Goldman Sachs (GS) … [visit site to read more]
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| Posted: 03 Feb 2010 06:15 AM PST Tesoro Corporation's (TSO) fourth-quarter 2009 results came in weaker than expected, pulled down by depressed refining margins and lower throughput on the back of weak fuel demand and high inventories. The situation was further aggravated by higher costs and expenses. Loss per share, excluding goodwill impairment charges, came in at 99 cents, wider than the Zacks Consensus Estimate of 93 cents. In the year-ago period, the Texas-based company earned 99 cents. However, revenue of … [visit site to read more]
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| Comcast Outperforms, Outlook Flat Posted: 03 Feb 2010 06:04 AM PST Comcast Corp. (CMCSA) reported better-than-expected fourth quarter 2009 financial results. Quarterly GAAP net income was $955 million or 33 cents per share, compared to just $412 million or 14 cents per share in the prior-year quarter. However, in the fourth quarter of 2009, the company recognized $130 million (4 cents per share) of income tax benefit. Excluding this item, fourth quarter EPS of 29 cents exceeded the Zacks Consensus Estimate of 27 cents. Higher revenue and lower interest … [visit site to read more]
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| Time Of Change: A Period Of US Dollar Weakness? Posted: 03 Feb 2010 06:01 AM PST We have resisted the all too obvious references to a certain type of Greek theater when describing the goings on in the Hellenic Republic. Although we refuse to succumb to temptation, there is a device employed by the chorus - during the aforementioned nameless art form - which signaled a turning point. Antistrophe - roughly translated - means counter-turning or counter-circling and was the device used by the Greek chorus to indicate a time of change. Importantly it was only the second of … [visit site to read more]
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| Aflac Surpasses, Raises Outlook Posted: 03 Feb 2010 06:00 AM PST Aflac Incorporated's (AFL) fourth quarter earnings of $1.18 cents per share were ahead of the Zacks Consensus Estimate of $1.16. This compared favorably with earnings of 98 cents in the year-ago quarter. Earnings in the reported quarter excluded after-tax realized investment losses of $307 million or 65 cents per share, compared to losses of $262 million or 56 cents in the prior-year quarter.
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| Forex Trading: EURUSD Moves Down And Approached The 100 Hour MA Now Posted: 03 Feb 2010 05:56 AM PST The 1.3938 level is the 100 hour MA. The market is approaching this level and should find low risk buyers against the level- at least initially. Earlier today the market moved up and tested the 200 hour MA (green line in the chart above) and held.
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| Posted: 03 Feb 2010 05:11 AM PST ( click to enlarge ) Gigamedia had a great day on Tuesday. Rumors of takeover are emerging again. The stock has crossed its 10 day ma. Any time the price of a stock is above a major moving average it is usually a bullish signal. The rise brought K line above D line indicating a rally. Tuesday's high is resistance for a follow move on Wednesday. ( click to enlarge ) Hemispherx Biopharma (HEB) shares surged today on news that the company has received a favorable response from the FDA … [visit site to read more]
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| Forex Trading: EURUSD Moves Lower In Early NY Trade To Test 100 Bar MA And Other Support Levels Posted: 03 Feb 2010 05:05 AM PST The 100 bar MA on the 5 minute chart comes in at the 1.3987 level. The midpoint of the days range comes in at 1.3986. In addition the 38.2% of the move down from the January 25th high to the low comes in at 1.3983. As a result we are seeing some hesitation at the level before the ADP report at 8:15 (ext -40K). Lets see whichway the market wants to go following the number.
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| Picture Of The Day: US GDP - What It Really Looks Like Posted: 03 Feb 2010 04:45 AM PST By now we all know that a swing in inventories flattered the growth in U.S. Q4 GDP. The chart below, courtesy of Goldman’s (GS) chief US economist Jan Hatzius (via Clusterstock - Chart of the Day), shows the “real” story. It illustrates that the growth in real final demand - basically GDP excluding inventory restocking - is flat and doesn’t live up to past recoveries at all.
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| Gold And Silver Should Follow Stock Markets In Heading Downward Posted: 03 Feb 2010 03:45 AM PST Well, the Dow didn’t quite break above the resistance lines by the end of the day yesterday like we supposed - however, vindication! First candle of the morning and up up and away it went. Well, perhaps not “up up and away”, more like sauntering up a rolling hill. But the point is there - all major indexes moved in-tandem (et al minus the USD of course, which is virtually the only thing that will be moving counter to the bear market, as we have been saying for months). Here’s the … [visit site to read more]
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| Bear Of The Day: AES Corporation (AES) Posted: 02 Feb 2010 09:00 PM PST Our Underperform recommendation on AES Corporation (AES) takes into account the significant international presence of its fossil fuel power plants in several emerging markets, thereby exposing it to both foreign currency and political risk.
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| Bull Of The Day: RightNow Technologies (RNOW) Posted: 02 Feb 2010 09:00 PM PST RightNow Technologies (RNOW) is a leading provider of on-demand customer relationship management (CRM) software solutions designed to optimize customer service operations for businesses of all sizes.
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| Posted: 02 Feb 2010 09:00 PM PST 3M Co. (MMM) recently reported fourth-quarter earnings of $1.30 per share, topping last year’s 97 cents and beating the Zacks Consensus Estimate by 7%. Sales of $6.1 billion came in ahead of the previous year’s $5.5 billion.
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| Posted: 02 Feb 2010 09:00 PM PST Microsoft Corp. (MSFT) recently hit a new 52-week high ahead of the company’s better than expected Q2 results from late January that handily beat expectations.
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| Bull Of The Day: RightNow Technologies (RNOW) Posted: 02 Feb 2010 09:00 PM PST RightNow Technologies (RNOW) is a leading provider of on-demand customer relationship management (CRM) software solutions designed to optimize customer service operations for businesses of all sizes.
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| Stock Buy: Atheros Communications Posted: 02 Feb 2010 09:00 PM PST Atheros Communications, Inc. (ATHR) analysts can not raise estimates fast enough following the recent quarterly report. Despite missing estimates last quarter, growth projections are in the double digits for the next few years.
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| Stock Buy: Whirlpool Corporation Posted: 02 Feb 2010 09:00 PM PST Whirlpool Corporation (WHR) recently reported fourth quarter sales growth of 12.72% as the emerging markets in Latin America and Asia boosted the bottom line. It was Whirlpool’s fourth big beat in a row.
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